How to Use Technology to Create, Innovate, and Entertain
Today, most companies are digital, operating from a hybrid (Internet and data center) or Internet of Things (IoT) mindset. This means that for the majority of companies — especially smaller and medium-sized businesses (SMBs) — their technology strategy revolves around using technology to create more products and services that drive greater customer loyalty, drive growth, and reduce costs.
In other words: It’s about using technology to push the boundaries of what is possible. This post will help you understand where you are today as a company interested in pushing the boundaries of technology. We’ll discuss some of the key trends in this area as well as some practices that can help you get there.
The SMB Culture Is Driving Technology Strategy
While most companies have a general technology strategy in place, the one driving that strategy is the culture within the business. That culture is formed by the individuals who work in that department and it can have a big impact on how technology is used and prioritised within the company.
What’s more, the culture of a company can also affect the level of adoption within the organization. If a big problem exists within an organization, but no one cares enough to do something about it, the problem will remain unaddressed, generating a negative cycle that can ultimately affect the business.
In other words, if company executives care deeply about their customers, their employees will too. If employees care about the customers, then the business can stand to benefit from increased engagement and loyalty.
The Future Of Cloud Technology and (IoT)
What is the Internet of Things?
The Internet of Things (IIoT) is a broad term that means the interconnectedness of digital devices, sources of data and services over a public network such as the internet. This connectedness provides businesses and individuals with an ever-increasing level of visibility into their environments and financial data in real time.
IoT is also referred to as Internet of Everything or IoT-IoE. As demand for connected devices, solutions and services rises while the adoption rate continues to increase, so will the focus on how to connect them.IoT represents an interconnected future where every product, service, event and process will be automated through computerization, user experiences and artificial intelligence (AI).
This will drive innovation in everything from smart lighting to smart glasses — giving rise to new uses for traditional technologies such as telemedicine. Let’s explore why this is so and what we can do about it.
What is cloud technology?
Cloud-based technology has evolved from a niche market to one of the most popular tech trends of the last decade.
As businesses adopt cloud-based solutions to provide their critical operations with a seamless and scalable level of insight, they are able to reduce their costs and manage their assets more effectively.
Cloud-based technology can be used to create a virtual private network (VPN) that provides end-to-end encryption and authentication for consumers, businesses and government agencies.
The technology can also be used to create hybrid clouds that include on-site storage and virtual private networks. These capabilities have been found particularly useful when providing remote monitoring and support services.
Globally available cloud-based solutions enable advanced analytics and technologies such as real-time tracking, virtualisation, data delivery and more are available.
Machine-to-Machine (M2M) Connectivity is on the Rise
In the past decade or so, the growth of micro- and home-cellular phone networks and the Internet of Things (IoT) has made it easy for machines to communicate with each other. But it’s the growth of low-cost and basic M2M communication systems that is set to change the game.
With the rise of the IoT and the communication systems that it enables, it makes sense that the bar has been raised for machine-to-machine (M2M) connectivity. In the early 2000s, the idea of a connected car sounded unrealistic.
Today, it’s a reality. In fact, about half of all new cars sold in the U.S. are connected — and the number is rising. The connected home is on the rise as well. In fact, you can now order a home security system with smart home technologies built-in.
You’re Using Technology to Drive Customer Success
The Internet of Things has been big news in customer acquisition, but it’s not the only thing driving customer success.
Digital transformation is essential to every business’ growth strategy and customer success is just one of many factors driving the way that businesses engage with their customers.
Customer engagement is the process by which customers achieve their emotional and/or emotional health by which customers feel good about their decisions to purchase from your organisation.
In order for your technology to be successful, it must drive customer success by addressing the needs of your customers and driving engagement. In other words, your technology success story must be tied to customer success.
Using The Right Technology
CIOs are not just responsible for ensuring that IT systems operate properly or that digital initiatives are on track and on budget, but also for developing an effective IT strategy that involves a variety of disciplines, variables, and solutions.
A successful digital transformation across the enterprise, which is essential for consumers’ optimal experience, requires an effective IT strategies including:
- Asking the right questions: Asking “why” and “what value are you seeking?” is required before investing in new technologies. Understanding the reasoning behind each technology supports a successful integration and drives ROI.
- Understand transformation is people-led and supported by technology: Humans are the common denominator, no matter what technology is added to an enterprise. Understanding the current state, people and processes helps CIOs select the right technology for their teams.
- Adopting core concepts: An organisation cannot transform at scale without the prerequisite capabilities of a modern IT infrastructure.
Why Pushing Boundaries of Tech is Necessary to Fuel Innovation
Any industry must take risks in order to stay ahead of competitors and stay ahead of customers. If you or your company don’t take risks, you will fall behind your competitors and miss out on opportunities to expand your business.
Reasons why businesses needs to push technological boundaries in today’s economy
Technology-driven disruption is continuously changing the marketplace in 2022. Businesses that have been the most successful generally fall into a few categories:
- Businesses willing to push their own boundaries
- Early adopttion and innovation
- Early majority of technology adopters
Some businesses fail to grasp the signs of impending doom and are unable to keep up with the surge of innovation. Amazon, for example, disrupted the offline retail sector, causing many old businesses to go down. COVID-19, on the other hand, prompted many enterprises to modify or collapse, unsurprisingly, those that were willing to reevaluate their existing corporate structures and practices.
Businesses: rethinking attitudes towards technolgical change
When new changes come, some businesses embrace it while some resist.
Resistance to change can come in many forms including:
- Some businesses fear that they will be overwhelmed by new technology
- Some don’t feel like they have the proper training
- Many are afraid of the unknown
Redefining business models
The business model of the future must be defined. In the digital era, for example, the organisation’s agility is dependent on how well it can switch from one model to another.
Bottom Line
When companies adopt a technology-first mindset, they often make the mistake of prioritizing the short-term goals of technology before the big picture. This short-sightedness can have long-term consequences, as companies that have pushed the boundaries of technology have proven.
Pushing the boundaries of technology is at the core of business innovation. It requires an organisation to examine the way that it does business and find ways to change.
Companies that want to survive in a changing world must work towards being technology leaders by investing in the people, processes, and technologies that will drive innovation and transformation.
